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☆ Twitter answering privacy concerns 'so far' - lead EU regulator
▼ + stars: | 2022-11-28 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

DUBLIN, Nov 28 (Reuters) - The lead privacy regulator for Twitter in the European Union said it was concerned about the potential impact of layoffs at the social media company on its ability to meet privacy obligations, but said it was so far getting answers to its questions. Twitter has fired top executives and enforced steep job cuts with little warning following billionaire Elon Musk's tumultuous takeover of the company last month. Prior to the cuts, Twitter employed around 500 people at its European headquarters in Dublin where - like many other tech giants - Ireland's Data Privacy Commissioner (DPC) is the social media platform's lead privacy regulator within the EU. So far we're getting answers to our questions," DPC head Helen Dixon told Irish national broadcaster RTE on Monday. The watchdog said it had also been able to continue with six investigations into Twitter relating to potential privacy breaches that pre-date Musk's acquisition.

☆ Twitter answering privacy concerns "so far" - lead EU regulator
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, Nov 28 (Reuters) - Twitter's lead privacy regulator in the European Union said it is concerned about the impact layoffs at the social media company may have on its ability to meet privacy obligations but is so far getting answers to its questions. So far we're getting answers to our questions," Ireland's Data Privacy Commissioner (DPC) Helen Dixon told Irish national broadcaster RTE on Monday. "We're in multiple daily contact with them and we've a range of contacts still based at Twitter in Dublin. It's a fast evolving situation, I think where we arrive at the point where we can't get answers and we have no point of contact, then we will be in very serious difficulty." Reporting by Padraic Halpin; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ ECB's Makhlouf sees smaller interest rate hikes in 2023, if needed
▼ + stars: | 2022-11-27 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 27 (Reuters) - The European Central Bank will likely increase interest rates by smaller increments next year if further hikes are needed, governing council member Gabriel Makhlouf was quoted as saying on Sunday. Makhlouf said this week that his mind is open on the size of that hike. "When we get into next year, the likelihood is that if the rates go up, they'll go up by smaller increments," Makhlouf, the Irish central bank chief, told Ireland's Sunday Independent newspaper in an interview. "Then we'll have to see what's happening to the euro area economy - so we can judge how much more we need to do. And over what pace do we need to do it...

☆ EU Justice Commissioner to meet Meta, Twitter executives in Dublin
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 22 (Reuters) - European Union justice chief Didier Reynders will meet executives from Twitter and Meta (META.O) at their European headquarters in Dublin this week, the Irish Times quoted the commissioner as saying on Tuesday. Following recent layoffs at the two companies, the newspaper quoted Reynders as saying that he was struck by "some decisions to fire people engaged in discussion with the commission" on new regulations introduced in Brussels. "It's quite strange, at the moment where there are more and more obligations and necessity to put into force," Reynders, who will be in Dublin on Thursday to speak to lawmakers, said in an interview with the newspaper. "It's too early to say that there is a real problem, but it is logical that we have some concerns, because of the size of the decisions taken – certainly in Twitter, but also in Meta and maybe others." Reporting by Padraic Halpin; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Irish consumer sentiment dips slightly on tech job losses
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 21 (Reuters) - Irish consumer sentiment dipped slightly in November as people grew concerned about job losses in the country's tech sector, a survey showed on Monday. The Credit Union Consumer Sentiment index fell to 45.3 from 46.1 in October, having recorded a 14-year low of 42.1 in September even as the economy continued to grow in the face of the rising cost of living. Foreign-owned companies employ more than 275,000 people in Ireland, or one in nine workers, and the survey's authors believe that recent job losses in the large multinational tech sector are adding to consumer caution. But they also detected an element of resilience in the Irish reading when compared with the United States, where many of the tech layoffs have been announced. The United States suffered a significant and unexpected drop in consumer sentiment this month.

☆ Flutter sees five-fold jump in revenue at U.S. Fanduel unit long term
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] People make their bets at the FANDUEL sportsbook during the Super Bowl LIII in East Rutherford, New Jersey, U.S., February 3, 2019. REUTERS/Eduardo MunozDUBLIN, Nov 16 (Reuters) - Flutter (FLTRF.L) sees revenue at its rapidly growing and market leading U.S. Fanduel business jumping by 4.5 to 5-times over the long term, the world's largest online betting firm said on Wednesday. Flutter, which upgraded its full-year revenue guidance for Fanduel to between $2.95 billion to $3.2 billion last week, told investors that it expects the overall value of the U.S. sports betting and online gaming market to rise to $40.5 billion by 2030 from $9 billion currently. "We do believe that we'll be on that high end of the range - five times," Fanduel Chief Executive Amy Howe said at an investor day, adding that Fanduel was "incredibly confident" of turning a profit for the first time in 2023. Reporting by Padraic Halpin; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

A UN study last year found "negligible" correlation between household food waste and gross domestic product, indicating most countries "have room to improve." "We do have a long way to make the goal," said Jean Buzby, the food waste liaison at the U.S. Department of Agriculture. The USDA, the Environmental Protection Agency and the Food and Drug Administration agreed in 2018 to tackle America's food waste together. A spokesman for New Zealand's environment ministry said the country is finalizing its baseline food waste estimate so it can establish a target. SLOWEST GAZELLEIn California, which has America's most ambitious climate policies, officials are trying to ensure food waste goes to composting, not landfills.

☆ Bank of Ireland increases fixed mortgage rates by 0.25%
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, Nov 10 (Reuters) - Bank of Ireland (BIRG.I) followed main rival AIB (AIBG.I) in increasing mortgage interest rates after the European Central Bank began to hike its rates, adding a smaller 0.25% to the cost of a new fixed-rate mortgage on Thursday. AIB (AIBG.I), the country's largest mortgage lender, last month became the first Irish bank to increase its fixed rates since the ECB began to push rates up at its fastest pace on record. It increased new fixed rates by half a percentage point. While Ireland's third high street lender Permanent TSB (IL0A.I) has yet to move, non-bank mortgage lenders in the market - ICS Mortgages, Avant Money and Finance Ireland - have increased the cost of mortgage products in recent weeks. Reporting by Padraic Halpin; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of Ireland follows AIB in raising interest income guidance
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Nov 9 (Reuters) - Bank of Ireland (BIRG.I) on Wednesday followed main rival AIB (AIBG.I) in upgrading its net interest income guidance for 2022, reflecting the faster pace of European Central Bank interest rate increases. Ireland's largest bank by assets said in a trading update that it expects net interest income to increase by around 6% to 7% year-on-year compared to its previous guidance that it would be modestly higher than 2021. AIB, the country's largest mortgage lender, forecast last month that its net interest income would increase by more than 15% compared to the 10% expected previously. AIB is the only Irish bank so far to increase non-tracker mortgage interest rates since the ECB began to hike rates at its fastest pace on record. Bank of Ireland's 3% interest income growth year-to-date was driven by the bank no longer being charged negative rates by the ECB for excess deposits.

☆ Ireland to sell 8% of its majority stake in AIB in one go
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 7 (Reuters) - The Irish government received more than enough demand to cover the sale of 8% of its majority stake in Allied Irish Banks (AIB) (AIBG.I) in an accelerated book build on Monday, one of the joint bookrunners said. The state's stake stood at 71% at the start of the year. AIB shares closed up 1.96% at 3.20 euros on Monday. The last placing, conducted before euro zone banks began to benefit from European Central Bank interest rate hikes, was priced at 2.28 euros per share. Ireland pumped 64 billion euros ($64.2 billion), or almost 40% of its then annual economic output, into the country's banks just over a decade ago following a huge property crash.

☆ Ireland touts strong investment pipeline amid tech job cuts
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Nov 7 (Reuters) - Ireland has a strong pipeline of investments from foreign-owned multinationals and expects many positive announcements in the coming months, Deputy Prime Minister Leo Varadkar said on Monday, looking to ease fears around tech-sector jobs cuts. Ireland is hugely reliant on multinationals that employ over 275,000 people, or one in nine workers, and pay a large chunk of the country's income and corporate taxes. Varadkar was briefed on Monday by the state's inwards investment agency, IDA Ireland, on the current situation in the global tech sector. Tech multinationals employ over 37,000 people in Ireland, according to the IDA. "As a country we are close to full employment, with high demand for tech, marketing and other skills across all sectors."

☆ Ireland outlast South Africa to win 19-16 in bruising battle
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 5 (Reuters) - Ireland came out on top in a physical battle against South Africa with a 19-16 victory on Saturday that handed the top side in the global rankings a psychological boost over the world champions ahead of their title defence next year. The host's stern defence finally buckled 13 minutes from time when South Africa lock Franco Mostert stretched over. A Johnny Sexton penalty for the Irish crucially made it an eight-point game and a 76th minute Kurt-Lee Arendse try was not enough as the visitors' lack of a recognised goalkicker proved costly. The win meant Andy Farrell's men followed up their first ever three-test series victory in New Zealand in July with another important win against a team they will face again in the World Cup pool stages in France in 10 months' time. Reporting by Padraic Halpin; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

☆ Ireland's Henshaw ruled out of South Africa game, McCloskey starts
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, Nov 4 (Reuters) - Ireland centre Robbie Henshaw has been ruled out of Saturday's test against South Africa through injury, the Irish Rugby Football Union said, with in-form Ulster midfielder Stuart McCloskey coming into the starting lineup. McCloskey, 30, will win his seventh cap since making his debut in 2016. A superb season so far has put him next in line to Henshaw, his centre partner on Saturday Garry Ringrose and the suspended Bundee Aki ahead of next year's World Cup. Leinster utility back Jimmy O'Brien could win his first cap after being added to the bench for the opening test of Ireland's November series. Reporting by Padraic Halpin Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

☆ Ryanair breaks another monthly traffic record in October
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 2 (Reuters) - Ryanair (RYA.I) flew 15.7 million passengers in October, a record high for the month and up 14% on pre-COVID levels, Europe's largest airline by passenger numbers said on Wednesday. Similar to September, the jump in traffic meant Ryanair flew more passengers last month than in any of its busiest summer months before the COVID-19 pandemic struck. It flew a record 16.9 million passengers in August. CEO Michael O'Leary told Reuters last month that bookings for the autumn mid-term and Christmas holidays were ahead of pre-COVID levels. Ryanair expects to fly 166.5 million passengers in the year to the end of March, significantly ahead of its previous record of 149 million.

France, Spain and Finland said their rules are already structured to automatically take account of market tensions. The data tracked German, Italian, French, Spanish and Dutch bonds, markets which account for the vast majority of euro zone debt with nearly 8 trillion euros outstanding. So governments expect, and some formally require their primary dealers - banks that buy government debt at auctions and then sell to investors and manage its trading - to keep those tight. The euro zone is roughly 60% the size of the U.S. economy but it relies on Germany's 1.6 trillion euro bond market as a safe haven - a fraction of the $23-trillion U.S. Treasury market. Smaller governments pay premium over bigger rating peersEfforts by debt officials are welcomed by European primary dealers, whose numbers have dwindled in recent years because of shrinking profit margins and tougher regulation.

☆ Irish central bank eases mortgage-lending limits
▼ + stars: | 2022-10-19 | by ( Conor Humphries | ) www.reuters.com time to read: +1 min

DUBLIN, Oct 19 (Reuters) - Ireland's central bank is to ease mortgage-lending limits to allow first-time property buyers to borrow up to four times their income, it said on Wednesday following a review of lending rules designed to prevent a lending bubble. Currently lenders can only offer loans up to 3.5 times the income of first-time buyers. That is set to rise to four times from January, the bank said. The 3.5 times limit will remain for other buyers. The bank also raised the loan-to-value limit for those buying for the second time to 90% from 80%, putting them in line with current limits for first-time buyers.

☆ Ireland to extend business energy supports to newly opened businesses
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Oct 18 (Reuters) - Irish businesses that have opened in the last year will be able to avail of an energy grant scheme that was initially limited to those that had been established for longer, Finance Minister Paschal Donohoe said on Tuesday. The government introduced the 1.25 billion euro scheme in last month's budget, providing businesses such as hotels, shops and restaurants with up to 40% of the increase in electricity or gas bills if those costs have risen by over 50% year-on-year. Donohoe said a new procedure to facilitate more recently opened businesses will be included in the legislation underpinning the budget to give them access the scheme and not put them at a competitive disadvantage. He said the legislation to be published on Thursday would also extend the scheme, which is capped at 10,000 euros per month and due to last until February, to some professional services. Register now for FREE unlimited access to Reuters.com RegisterReporting by Padraic Halpin; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Novartis to cut its Irish workforce by up to 25%
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Oct 13 (Reuters) - Novartis (NOVN.S) said on Thursday that it would cut up to 400 jobs in Ireland, or about a quarter of its workforce there, as part of a previously announced restructuring programme that will cut 8,000 jobs globally. read moreThe changes could potentially impact around 400 staff at its global service centre in Dublin, Novartis said in a statement. It currently employs 1,500 people in Ireland, including 1,000 in the Dublin operation that it said will continue to play a critical role. Register now for FREE unlimited access to Reuters.com Register"Ireland is an important location for Novartis due to its unique eco-system of highly educated, skilled and adaptable workforce which is critical in the knowledge-intensive, high-science, pharma sector," Novartis AG said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Padraic Halpin; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Ryanair CEO predicts higher fares on 'surprisingly strong' bookings
▼ + stars: | 2022-10-13 | by ( Klaus Lauer | ) www.reuters.com time to read: +2 min

SummarySummary Companies Ryanair sees mid to high single-digit fare growthO'Leary says travel demand supported by high savingsBERLIN, Oct 13 (Reuters) - Ryanair's (RYA.I) bookings for the autumn mid-term and Christmas holidays are ahead of pre-COVID levels and it sees average fares rising by more than expected for the financial year to end-March, Chief Executive Michael O'Leary said on Thursday. "At the moment they (bookings) are surprisingly strong, we thought they would begin to ease off but actually forward bookings into the mid-term and into Christmas are stronger in terms of volume and pricing than they were pre-COVID," O'Leary said in an interview. "But so far everything seems to indicate that people are switching to the lowest cost airline and in all markets that's Ryanair," he said. It expects to fly 166.5 million passengers in the year to the end of March, significantly ahead of its previous annual record of 149 million reached before the pandemic brought the travel industry to a standstill. Register now for FREE unlimited access to Reuters.com RegisterReporting by Klaus Lauer, Writing by Padraic Halpin in Dublin; Editing by Mark Potter and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Russia's President Vladimir Putin and Turkey's President Tayyip Erdogan meet on the sidelines of the 6th summit of the Conference on Interaction and Confidence-building Measures in Asia (CICA), in Astana, Kazakhstan October 13, 2022. Putin told his Turkish counterpart Tayyip Erdogan that Turkey could act as a gas hub, having already suggested on Wednesday that Russia could reroute supplies intended for the Nord Stream pipelines under the Baltic Sea, which were damaged last month. Concerns over winter supplies were heightened as workers at EDF's Bugey nuclear plant in eastern France resumed a strike over wages on Thursday, the latest in a series of stoppages to hit the French industry. Norway has become an increasingly important source of gas for the EU and Britain after Russia curtailed supplies. At a meeting in Kazakhstan, President Putin said that increased cooperation on supplies with Turkey , which is not a member of the EU, could also help to regulate prices.

☆ Ireland to tap surplus, taxes on suppliers for any future energy measures -finance minister
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Sept 27 (Reuters) - Ireland will tap surplus funds not stashed away in its national reserve fund if consumers or businesses need further help with energy bills beyond March next year, Finance Minister Paschal Donohoe said on Tuesday. "The first port of call for that will be the surplus we still believe we will have," Donohoe told a news conference when asked if he would tap the planned 6 billion euro national reserve fund in the first instance. "The second port of call will be either our participation in the EU wide energy tax measure that may come in and if that is not forthcoming, the government has committed today to bringing forward our own domestic tax raising measure from the energy sector." Register now for FREE unlimited access to Reuters.com RegisterReporting by Padraic Halpin Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Ireland dips into budget surplus to ease cost of living squeeze
▼ + stars: | 2022-09-26 | by ( Padraic Halpin | Conor Humphries | ) www.reuters.com time to read: +3 min

DUBLIN (Reuters) -Ireland dipped into one of Europe’s few budget surpluses to fund higher-than-usual spending hikes and tax cuts, ease energy costs for firms and consumers and set cash aside in a budget it said was in sharp contrast to neighbouring Britain’s economic plans. FILE PHOTO: A shopper wearing a face masks pushes a trolley in a discount shop in Dublin, Ireland, November 30, 2021. In May, the European Commission forecast that Denmark would be the only country in the EU to deliver a surplus this year with Sweden, Ireland and Luxembourg joining them in 2023. Ireland’s forecasts on Tuesday included a surplus of just under 0.5% of national income for 2022. The amount of money people can earn tax-free before hitting the higher rate of income tax was also increased.

☆ Ireland aims to ease cost of living squeeze with 'two budgets in one'
▼ + stars: | 2022-09-26 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterIt also promised a one-off package including grants for companies and cash for households to pay energy bills. That will come in at around 3 billion euros, according to two sources briefed on the negotiations which are nearing a conclusion. In May, the European Commission forecast that Denmark would be the only country in the EU to deliver a surplus this year with Sweden, Ireland and Luxembourg joining them in 2023. Ireland would still be taking in less money that it spends without the corporate tax haul mostly generated from its large multinational sector. ($1 = 1.0350 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Padraic Halpin; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of Ireland returns to full private ownership
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

A man passes a logo for the Bank of Ireland as he leaves the bank in Dublin May 28, 2007. REUTERS/Luke MacGregor (IRELAND)DUBLIN, Sept 23 (Reuters) - Bank of Ireland (BIRG.I) became the first Irish lender to return to full private ownership since the aftermath of the 2008-09 global financial crisis after the government said on Friday that it had sold the last of its shares. Bank of Ireland, the country's largest bank by assets, was the only lender to avoid majority state ownership and the only one on which the government has made a profit on its investment so far. It earned approximately 841 million euros since it began the gradual sale of the state's residual 13.9% shareholding in Bank of Ireland in August 2021. "The gradual disposal of the state's investment in Bank of Ireland into a rising market has been successful in delivering on this objective for our citizens."

☆ Northern Ireland has more Catholics than Protestants for first time - census
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterBELFAST, Sept 22 (Reuters) - Northern Ireland has more Catholics than Protestants for the first time, census results showed on Thursday, a historic shift that some see as likely to help drive support for the region to split from Britain and join a united Ireland. 45.7% of respondents identified as Catholic or were brought up Catholic, compared with 43.5% identifying as Protestants, data from the 2021 census showed. A decade ago the previous census showed Protestants outnumbered Catholics by 48% to 45%, after falling below the 50% mark for the first time. The shift comes a century after the Northern Ireland state was established with the aim of maintaining a pro-British, Protestant majority as a counterweight to the newly independent, predominantly Catholic, Irish state to the south. Register now for FREE unlimited access to Reuters.com RegisterReporting by Amanda Ferguson, editing by Padraic Halpin and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

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